Nonbank

Comptroller of the Currency Jonathan Gould said Tuesday that chartering compliant fintechs is "the only way" to level the playing field between banks and nonbanks. His comments come as the Office of the Comptroller of the Currency weighs new trust charters and stablecoin rules.

The Consumer Financial Protection Bureau is rescinding two rules issued under former CFPB Director Rohit Chopra that required nonbanks to register court orders, plus terms and conditions of contracts.

The Consumer Financial Protection Bureau received pointed pushback from banks in their public comments on a proposed rule that would slash the number of nonbanks being supervised in four key markets.

A proposed rule published Tuesday in the Federal Register would limit the Consumer Financial Protection Bureau's ability to designate nonbank entities for supervision.

A non-bank lender won't ever compete with a bank on price, but can offer flexible underwriting and faster origination times, according to a veteran originator.

JPMorganChase CEO Jamie Dimon said he wouldn't invest in the private-credit business if he were in different shoes. Meanwhile, an executive at Zions Bancorp. predicted that the sector's rapid growth will end badly.

Banks that are financing the rise of nonbank competitors have been losing market share in commercial lending. But by getting in on the action, the same banks are also seeing some payoff.

The Consumer Financial Protection Bureau said it will not enforce or supervise nonbank financial firms that miss upcoming compliance deadlines for the nonbank registry of repeat offenders.

The Financial Stability Board plans to publish a consultation report next year suggesting how authorities could monitor vulnerabilities and use policy measures to address systemic risk from nonbank financial intermediaries' leverage.

The Consumer Financial Protection Bureau's nonbank registry to address repeat corporate offenders goes live this week, but some experts have raised concerns about redundancy and costs for nonbanks.